insolvency
Raising Taxes to Rescue Social Security?
It’s mentioned a lot by pundits and Democrat politicians– raise payroll taxes to fix Social Security’s ill financial health. Maurie Backman explains the program’s troubles (insolvency hits around 2033-34) followed by various tax raising proposals. One is to increase the…
Stimulus Negotiations and Comments on a Payroll Tax Holiday
Pre-recess deliberations on another coronavirus relief package are continuing amid complex and divergent viewpoints on the size and content of further relief. From a Social Security standpoint, one of the concerns continues to be the administration’s continuing push for a…
A Preview of Potential Social Security Changes
As we’ve reported on this website persistently over the past several years, Social Security is facing a long-term solvency issue. Not bankruptcy, as the rumor mill frequently suggests, but rather the inability to fully pay the benefits promised to beneficiaries who…
Guarding Against the Potential for Insolvency-Driven Social Security Cuts
It should be no secret to anyone that Social Security is in a gradual descent toward insolvency. After all, for years now the annual Social Security Trustees Report has sounded the alarm, and many news reports have hyped the problem…
Biggest Social Security Lie: Government Stole the Money
Jeff Szymanski works in political communications at The Association of Mature American Citizens (AMAC). He wrote this piece in an attempt to put to rest once and for all one of the biggest myths/lies about Social Security. “The bigger the lie, the more…
The Likely Permanence of Tax on Social Security Benefits
It’s an irritant to more than half of today’s Social Security beneficiaries, but all indications are that taxation of the benefits they’ve earned through a lifetime of participation in America’s workforce is here to stay. In fact, with Social Security…
Social Security’s Importance
Although many media sources hasten to point out that Social Security will not be sufficient for many retirees to enjoy a retirement completely free of financial anxiety, the fact remains that the benefits represent a means to “keep an estimated…
Social Security and the Poverty Problem
In the wake of the recently-announced 2019 Social Security cost-of-living adjustment (COLA), many seniors are breathing a sigh of relief over the largest increase in seven years. But while that’s a good thing, MarketWatch columnist Paul Brandus, in a post on www.marketwatch.com,…
Trustees Report Talking Points
The 2018 Social Security Trustees Report has been out for a few months now, and its contents and projections have been hashed about in a host of news articles. So, while just about everybody interested in the subject is clearly…